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Spain Current Account

Spain: Current account records largest surplus in six months in June

August 31, 2015

Spain’s current account balance incurred a surplus of EUR 1.3 billion in June, which overshot the 1.2 million surplus recorded in the same month last year and May’s 1.2 million surplus. In the 12 months up to June, the current account balance recorded a surplus of EUR 12.5 billion, which was above the EUR 12.3 billion tallied in the 12 months up to May.

FocusEconomics Consensus Forecast panelists expect the current account balance to record a surplus of 0.5% of GDP in 2015. In 2016, the panel sees the current account surplus broadly stable at 0.4% of GDP.

Industrial production rose a modest 0.8% year-on-year in seasonally- and calendar-adjusted terms in October, rebounding from September’s revised 0.2% dip (previously reported: -0.1% year-on-year), which had marked the first contraction in over two years.

Spain’s current account balance recorded a surplus of EUR 899 million in September, a marked decline from the EUR 1.9 billion surplus recorded in September 2017 and well below the EUR 1.8 billion surplus logged in August.

According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 7,255 new construction permits in September.

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